Arizona State Retirement System Lowers Stake in Realty Income Co. (NYSE:O)

Arizona State Retirement System reduced its stake in shares of Realty Income Co. (NYSE:O) by 0.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 249,054 shares of the real estate investment trust’s stock after selling 618 shares during the quarter. Arizona State Retirement System’s holdings in Realty Income were worth $13,302,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in O. Sierra Ocean LLC bought a new stake in shares of Realty Income in the fourth quarter valued at about $32,000. BankPlus Trust Department bought a new stake in shares of Realty Income in the fourth quarter valued at about $37,000. ST Germain D J Co. Inc. raised its holdings in shares of Realty Income by 306.5% in the fourth quarter. ST Germain D J Co. Inc. now owns 752 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 567 shares in the last quarter. Luken Investment Analytics LLC bought a new stake in shares of Realty Income in the fourth quarter valued at about $40,000. Finally, Independence Bank of Kentucky raised its holdings in shares of Realty Income by 54.5% in the fourth quarter. Independence Bank of Kentucky now owns 850 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 300 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on O shares. Scotiabank decreased their price objective on Realty Income from $59.00 to $57.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Barclays lifted their price objective on Realty Income from $56.00 to $59.00 and gave the company an “equal weight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft began coverage on Realty Income in a report on Wednesday, December 11th. They issued a “hold” rating and a $62.00 price objective for the company. Royal Bank of Canada reduced their target price on shares of Realty Income from $62.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, Stifel Nicolaus reduced their target price on shares of Realty Income from $70.00 to $66.50 and set a “buy” rating for the company in a report on Wednesday, January 8th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $62.04.

Realty Income Stock Performance

O opened at $57.41 on Friday. Realty Income Co. has a 52-week low of $50.65 and a 52-week high of $64.88. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. The company has a market cap of $51.18 billion, a P/E ratio of 54.67, a price-to-earnings-growth ratio of 2.10 and a beta of 1.00. The firm’s 50-day moving average price is $54.62 and its 200-day moving average price is $57.89.

Realty Income (NYSE:O) last posted its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.01). Realty Income had a net margin of 17.57% and a return on equity of 2.35%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.28 billion. As a group, equities analysts anticipate that Realty Income Co. will post 4.19 EPS for the current fiscal year.

Realty Income Increases Dividend

The company also recently announced a mar 25 dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be given a $0.268 dividend. The ex-dividend date is Monday, March 3rd. This represents a yield of 5.7%. This is a positive change from Realty Income’s previous mar 25 dividend of $0.26. Realty Income’s dividend payout ratio is currently 327.55%.

Realty Income Profile

Realty Income, The Monthly Dividend Company, is an S&P 500 company and member of the S&P 500 Dividend Aristocrats index. We invest in people and places to deliver dependable monthly dividends that increase over time. The company is structured as a real estate investment trust (“REIT”), and its monthly dividends are supported by the cash flow from over 15,450 real estate properties (including properties acquired in the Spirit merger in January 2024) primarily owned under long-term net lease agreements with commercial clients.